13 June 2008

Western media may be replacing the printed word with the digital, but, in India, print still rules. Contrary to Western media trends, the print media is growing phenomenally in India. In the last five years, the Information and Broadcasting (I&B) Ministry in India has given approvals for publication of 284 new magazines.

Earlier this month, the Indian I&B Minister, Mr Priya Ranjan Dasmunsi, addressed a meeting in New Delhi on the ‘Growth of Print Media in Liberalised Economy’. According to a Press Trust of India (PTI) report on that meeting, titled Print media records dynamic growth: I&B ministry, dated 2 June 2008, and reported in www.outlookindia.com, India’s “print media industry stood at Rs.149 billion in year 2007 and recorded a growth of 16 per cent over previous year.”

What’s more, Mr Dasmunsi had added, “in view of increasing literacy, there is a possibility of more growth and expansion of the print media in future.”

Mr Dasmunsi’s confidence is based on a survey of ‘India Media & Entertainment Scenario’ conducted jointly by the Federation of Indian Chamber of Commerce and Industry (FICCI) and PriceWaterhouseCoopers. The survey had further pointed out that the “magazine industry size was estimated at Rs.19 billion and registered a growth of 15 per cent during the year 2007.”

“According to the same study,” reported PTI, “Indian Print Media is projected to grow by 14 per cent over the next five years and magazine publishing to grow at a higher rate of 15 per cent. During the same period, newspaper-publishing market would reach Rs.243 billion.”